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Income Tax - Highlights / Catch Notes

Home Highlights February 2012 Year 2012 This

Slump sale – it was not possible to attribute the consideration ...

Income Tax

February 24, 2012

Slump sale – it was not possible to attribute the consideration which was paid, towards the individual assets which form a component part of the transfer of the business hence not possible to compute any chargeable capital gain on the sale of the undertaking as a going concern. - HC

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  10. Reopening of assessment u/s 147 - Assesseee had already disclosed the receipt by way of sale consideration from the transaction in question and has bifurcated the said...

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